Banker's Acceptance Drafts

3 Months Ended

Mar. 30, 2013

Banker's Acceptance Drafts [Abstract]

Banker's Acceptance Drafts

2.        Banker's Acceptance Drafts

The Company's Chinese subsidiaries may receive banker's acceptance drafts from customers as payment for their trade accounts receivable. The banker's acceptance drafts are non-interest bearing obligations of the issuing bank and mature within six months of the origination date. The Company has the ability to sell the drafts at a discount to a third-party financial institution or transfer the drafts to vendors in settlement of current accounts payable prior to the scheduled maturity date. These drafts, which totaled $8,552,000 and $9,794,000 at March 30, 2013 and December 29, 2012, respectively, are included in accounts receivable in the accompanying condensed consolidated balance sheet until the subsidiary obtains cash payment on the scheduled maturity date or discounts or transfers the banker's acceptance drafts prior to maturity.